July 18, 2023 – NEOM Green Hydrogen Company (NGHC) engaged Sargent & Lundy as its lender’s technical advisor to support the world’s largest green hydrogen plant – a project that recently achieved financial close at a total investment value of $8.4 billion with 23 local, regional, and international banks and investment firms. Sargent & Lundy’s scope of work, which began in 2021, includes technical due diligence as well as construction and operational stage advisory services on behalf of project lenders.
NGHC’s mega-plant will be located at Oxagon in Saudi Arabia’s NEOM region. By the end of 2026 it is expected to integrate up to 4GW of solar and wind energy to produce up to 600 metric tons of carbon-free green hydrogen per day in the form of green-ammonia as a cost-effective solution for the transportation and industrial sectors globally.
Air Products is the sole offtaker of NGHC’s green ammonia production and will provide it to end markets globally to be converted back to hydrogen, which will aid in decarbonizing hard-to-electrify sectors of the economy such as long-haul trucking, aviation, shipping, and heavy industries.
NGHC is an equal joint venture between U.S.-based Air Products, Saudi Arabia’s national champion and global utilities developer ACWA Power, and NEOM. Air Products is the world’s leading hydrogen producer and is executing megaprojects around the world. ACWA Power is a leading developer, investor, and operator of power generation, water desalination, and green hydrogen plants globally and has delivered record-low tariffs across markets. NEOM is a region in Northwestern Saudi Arabia owned by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund.
Sargent & Lundy brings the knowledge and resources to help its clients tackle all aspects of hydrogen projects including planning, commissioning, designing, and evaluating the next generation of energy solutions.